CFR > Title 31 - Money and Finance: Treasury > SUBTITLE B—Regulations Relating to Money and Finance > CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY (parts 200 to 391) > SUBCHAPTER B—BUREAU OF THE PUBLIC DEBT (parts 306 to 391) > PART 358—REGULATIONS GOVERNING BOOK-ENTRY CONVERSION OF BEARER CORPORA AND DETACHED BEARER COUPONS > 358.12—What is Treasury's liability if the depository institution does not have authority to convert securities?

358.12—What is Treasury's liability if the depository institution does not have authority to convert securities?

We are not liable if the depository institution has no authority to convert the bearer corpora and detached bearer coupons to book-entry form or to take other actions in respect to book-entry accounts in BECCS and CUBES.